antic line

Norden Crown Provides Exploration Update for the Gumsberg and Burfjord JV Copper-Gold Projects

 Norden Crown Metals Corp. ( " Norden Crown " or the " Company ") (TSXV: NOCR) (OTC: NOCRF) ( Frankfurt : 03E) is pleased to provide an exploration update for its Burfjord Copper-Gold Project ("Burfjord") in northern Norway which is 100% owned but subject to an option (as described further, below) and its 100% owned Gumsberg Project ("Gumsberg"), located in the Bergslagan province in southern Sweden .

Norden Crown , in partnership with Boliden Mineral AB ("Boliden"), recently completed a 9 hole, 2,208.7 metre exploration drilling program at Burfjord, which was designed to test selected geological, geochemical and geophysical targets, with geochemical results expected in the coming weeks (Figure 1).  In addition to diamond drilling, Norden Crown completed 21.5 line-kilometres of ground–based time domain electromagnetic geophysics ("TEM") over high priority targets at Burfjord with the objective of identifying conductive copper sulphide mineralization for the purpose of drill testing (Figure 1).

Norden Crown is currently planning a soil sampling campaign and a high-resolution magnetic survey at the Fredriksson Gruva prospect at Gumsberg.  Results from this work will be combined with ongoing lithological and structural mapping to produce a 3-dimensional interpretation of the distribution of silver-zinc-lead mineralization and will form the basis of a follow up drilling program at Gumsberg.

EXPLORATION AT BURFJORD COPPER GOLD PROJECT, NORWAY

Norden Crown , together with partner Boliden, recently completed a Phase I diamond drill program and a 21.5 line-kilometre ground–based TEM survey at Burfjord.  Phase II of a previously announced UAV magnetic survey 1 is planned for Q4 2021.  Previous drilling by Norden Crown 2 at Burfjord returned compelling results including an intercept of 32 metres averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of 4.31% copper and 2.22 g/t gold) at shallow depths below a cluster of historic mine workings 3,4 .  Historical drilling at Burfjord (Cedarsgruvan) was reported to have returned 7.0 metres averaging 3.6% copper 5 .

Burfjord Diamond Drilling

A total of 9 holes (2,208.7 metres) have been drilled at Burfjord to test high priority Iron Oxide Copper Gold ("IOCG") targets located within the highly copper-gold anomalous Burfjord Anticline (Figure 1).  Diamond drilling was focused on lithological, structural, geochemical and geophysical targets with the objective of determining the upside copper-gold potential of the Burfjord Project.  Drilling was completed to an average depth of 245 metres and geochemical results are expected in the coming weeks.

Burfjord Time Domain Electromagnetic Geophysics

Norden Crown engaged GRM Geophysics ( Finland ) to conduct approximately 21.5 line–kilometres of TEM geophysics at Burfjord.  The survey includes one loop and expands coverage of the TEM data collected in 2020 1 , which identified a high-priority conductor measuring 1,900 metres between copper targets at Gamlegruvan and A-Gruva (Figure 1). TEM geophysics at Burfjord is used to identify conductive materials including inter-connected sulphide minerals such as chalcopyrite.  Conductive anomalies identified using TEM geophysics are used to increase confidence in previously identified lithological, structural and geochemical targets (Figure 1).  Furthermore, resistivity and conductivity data obtained from the TEM survey will enhance Norden Crown's geological interpretations and will be used to track copper and gold associated sulphide mineralization at depth and to increase confidence in the planned exploration drilling targets.  Results of this recent TEM survey are expected in the coming weeks.

Burfjord Joint Venture Terms

Norden Crown entered into an option agreement (the "Agreement") with Boliden in respect to Burfjord 6 . In order to earn a 51% interest in the Project, Boliden must fund 100% of the exploration programs by spending US$6 Million within four years of the date of the Agreement.

Overview of the Burfjord Project

Burfjord, located in the Kåfjord Copper Belt near Alta, Norway , is highly prospective for IOCG and sediment hosted copper mineral deposits.  Copper-gold veins at Burfjord that were historically mined (pre 20th century) at reported cut-off grades of 3-5% Cu are surrounded by envelopes of stockwork veins or disseminations of copper mineralization extending tens to hundreds of metres laterally into the host rocks.

Figure 1. Plan map showing, geology, anomalous rock sample (copper), target locations and 2021 drill hole locations at Burfjord. (CNW Group/Norden Crown Metals Corp.)

Norden Crown and Boliden believe this mineralization has economic potential and represents an attractive bulk tonnage exploration target.  Burfjord is comprised of six exploration licenses totaling 5,500 hectares in the Kåfjord Copper Belt near Alta in Norway . During the nineteenth century, copper mineralization was mined from over 30 historic mines and prospects developed along the flanks of a prominent 4 x 6-kilometre fold (anticline) consisting of interbedded sedimentary and volcanic rocks.  Many of the rocks in the anticline are intensely hydrothermally altered and contain sulphide mineralization.

EXPLORATION AT GUMSBERG SILVER-ZINC-LEAD, SOUTHERN SWEDEN

Ongoing 2021 exploration work at Gumsberg is focused on expanding the footprint of Broken Hill-Type ("BHT") mineralization intercepted at the Fredriksson Gruva historical mine workings in March 2021 7 .  A Phase I geological mapping and sampling program has been completed and Norden Crown is planning a high resolution magnetic geophysical survey which will be used to trace strongly magnetic mineralization (magnetite associated) in the subsurface.  Precious metal enriched based metal mineralization at Fredriksson Gruva is spatially associated with a broader horizon of magnetic iron and manganese-rich chemical sedimentary rocks. This thick magnetic sequence is geologically and geophysically distinctive and can be modeled in three dimensions using detailed magnetic data. Regional magnetic geophysical data sourced from the Geological Survey of Sweden suggests that the prospective magnetic anomaly (and coincident magnetite-bearing iron formation) extends over 21 kilometres across the Gumsberg West Licence (southwest of Fredriksson Gruva), greatly enhancing the exploration potential for additional BHT discoveries (see Figure 2).

An extensive, tightly spaced high resolution ground magnetic survey is planned at Fredriksson Gruva and is expected to commence in Q4 2021. Results from this survey will be integrated with geological mapping and soil sampling data to generate a 3-dimensional interpretation of silver-zinc-lead mineralization at Fredriksson Gruva and will form the basis of a follow up diamond drilling program to test the continuity, grade and distribution of BHT mineralization.

Figure 2. The location of the Fredriksson Gruva BHT deposit with the greater ~ 21 kilometre long BHT prospective magnetic anomaly. (CNW Group/Norden Crown Metals Corp.)

About Norden Crown

Norden Crown is a mineral exploration company focused on the discovery of silver, zinc, copper, and gold deposits in exceptional, historical mining project areas spanning Sweden and Norway.  The Company aims to discover new economic mineral deposits in historical mining districts that have seen little or no modern exploration techniques.  The Company is led by an experienced management team and an accomplished technical team, with successful track records in mineral discovery, mining development and financing.

Qualified Person

Daniel MacNeil , P.Geo, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is Vice President Exploration for Norden Crown .

References

1 See news release dated August 5, 2021.

2 See news release dated March 20, 2019.

3 Intercept reported as seen in drill core. The true width is estimated at 85-100% of the reported interval.

4 See news release dated March 20, 2019 for discussion of analytical methods, QA/QC and core handling protocols.

5 Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997

6 See news release dated June 10, 2020.

7 See news release dated March 1, 2021.

On behalf of Norden Crown Metals Corp.

Patricio Varas , Chairman and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed "forward–looking statements".  Forward–looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.  Forward-looking statements may include, without limitation, statements relating to future outlook and anticipated events, such as the successful completion of the exploration program (consisting of diamond drilling, mapping, prospecting, outcrop sampling, airborne magnetic and ground electromagnetic geophysical surveys) and Norden Crown's belief in the economic potential and attractiveness of Burfjord as a bulk tonnage target as discussed herein, the dates the various segments of the exploration program will commence, the duration of various segments of the exploration program, the anticipated timing of the results of the exploration programs described herein and the planned uses of the resulting data. Although Norden Crown believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward–looking statements.  Such material risks and uncertainties include, but are not limited to, ] the ability of the various contracted entities to complete their duties within the time expected by the Company; inclement weather conditions that may impede, delay or stop all or part of the exploration program; the effects of the Covid-19 epidemic or other epidemics or pandemics; mechanical breakdowns of equipment used in the exploration programs, changes in economic conditions or financial markets; the ability of Norden Crown to obtain the necessary consents required to explore, drill and develop the projects and, if obtained, to obtain such consents in a timely fashion relative to Norden Crown plans and business objectives for the projects; the general ability of Norden Crown to drill test its projects and find mineral resources; if any mineral resources are discovered or acquired, the Company's ability to monetize any such mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations. Forward–looking statements are based on the reasonable beliefs, estimates and opinions of Norden Crown management on the date the statements are made. Except as required by law, Norden Crown undertakes no obligation to update these forward–looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Norden Crown Metals Corp. Logo (CNW Group/Norden Crown Metals Corp.)

SOURCE Norden Crown Metals Corp.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/October2021/28/c4230.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has received permit approval from the Bureau of Land Management ("BLM") for ten drill pads, at the Hot Breccia copper project in Southern Arizona

The drill pads will allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area, and in particular the large conductive anomaly identified by Prismo's 2023 ZTEM survey. Ground mapping, prospecting and sampling conducted earlier this year has supported the targeting process and target selection.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Romios Announces $150,000 Non-brokered Offering

Romios Announces $150,000 Non-brokered Offering

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement of up to 15 million shares (the "Shares") priced at $0.01 per Share for up to $150,000 (the "Offering").

Funds will be used for exploration and working capital. All securities issued under the Offering are subject to a four month and one day hold period. The transaction is subject to TSX Venture Exchange approval. No funds from the sale of the Shares will be used for payments to non-arm's length parties or for investor relations activities. The funds from the sale of the Shares will be allocated as to $50,000 to maintain the Company's property in Nevada and the balance for general working capital.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canadian Critical Minerals Generates USD$246,000 in Revenue from Bull River Mine

Canadian Critical Minerals Generates USD$246,000 in Revenue from Bull River Mine

Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to report record revenues for the Company from the sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine ("BRM") project near Cranbrook, BC. During the month of June 2024, the Company trucked 694 wet metric tonnes ("wmt") of mineralized material to New Afton and the Company received a provisional payment of approximately USD$246,000 for the June 2024 shipments versus approximately USD$103,000 for May 2024 shipments. The mineralized material sent to New Afton graded 4.67% Cu, 0.89 gt Au and 39.5 gt Ag.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
1844 Announces Changes to the Board of Directors

1844 Announces Changes to the Board of Directors

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce the appointment of Mr. Mathieu Olivier to the board of directors effective immediately. Mr. Olivier will replace Mr. Denis Clement, who had been a board member since 2012.

Holding a bachelor's degree in business administration from Laval University, Mr. Olivier has led a 20-year career in wealth management and financial advisory in Quebec and has a strong history of managing investment in the junior natural resources industry. Mr. Olivier has extensive expertise in entrepreneurship and business development and is also involved in various charitable works, including sitting as the Chairman of Directors of Adaptavie Inc.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FPX Nickel Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

FPX Nickel Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies focused on the mineral processing and infrastructure facilities for the Baptiste Nickel Project (" Baptiste " or " the Project ") in central British Columbia .  The mineral processing and infrastructure Value Engineering studies have achieved significant value creation through facility optimization, flowsheet refinement, enhanced operability, and improvements to the project build strategy and execution basis.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • Primary crushing: Changing from a gyratory-type primary crusher to mineral sizers has reduced earthwork and structural quantities, improved Phase 1 operability, and eliminated the need for a second primary crushing circuit in Phase 2
  • Concentrator expansion: A new integrated approach to the Phase 2 expansion has reduced overall quantities, improved Phase 2 operability, and reduced the footprint of process and infrastructure facilities
  • Project phasing: The phased approach and throughput rates in the preliminary feasibility study (" PFS ") have been validated, while acceleration of the Phase 2 expansion improves Baptiste's metal production profile
  • Execution schedule has been confirmed, further validating the PFS's estimated three-year construction duration

"Results from our mineral process and infrastructure Value Engineering studies have added significant value to the Baptiste Nickel Project," commented Andrew Osterloh , the Company's Senior Vice President, Projects & Operations.  "By reducing quantities, improving operating efficiency, and advancing the project execution plan, we have enhanced Baptiste's potential as a long life, large-scale, low-cost, and low-carbon producer of made-in- Canada nickel units. We look forward to advancing additional engineering studies on the mining and refinery aspects of the Project in advance of commencing a feasibility study."

Background

The Baptiste 2023 preliminary feasibility study (" PFS ") demonstrates the potential to develop a high-margin and low-carbon nickel mine producing an average of 59,100 tonnes per year of nickel over a 29-year mine life (see the Company's September 6, 2023 news release).  Due to awaruite's properties, Baptiste has the unparalleled flexibility to produce either a high-grade concentrate (60% nickel) for direct feed into the stainless steel industry (the " Base Case ") or for further refining into battery-grade nickel, cobalt, and copper products for the electric vehicle battery supply chain (the " Refinery Option ").

While the PFS presents robust economics, including a Base Case after-tax NPV 8% of US$2.01 Billion and after-tax IRR of 18.6% at US$8.75 /lb Ni, FPX strives to add further value to Baptiste, focusing on a holistic blend of economics, constructability, operability, risk and ESG considerations.

The key Value Engineering studies pursued by FPX in 2024 are:

  • Mineral processing and infrastructure (described herein)
  • Mine planning and engineering (to be completed in the third quarter of 2024)
  • Refinery planning (to be completed in the third quarter of 2024)

Mineral Processing & Infrastructure Value Engineering Studies

FPX engaged Fluor Canada Ltd. (" Fluor ") and Wood Canada Ltd. (" Wood ") to perform detailed reviews of the 2023 PFS and to conduct mineral process and infrastructure Value Engineering studies.  The consultants identified three primary opportunities to add further value, which are described in greater detail hereunder:

  • Primary crushing: application of mineral sizers
  • Phase 2 concentrator expansion
  • Project phasing

As described below, each of the mineral process and infrastructure Value Engineering studies validated several key tenets from the PFS and added significant project value through reduced quantities, improved operability, reduced process operating costs, and reduced process and infrastructure footprint.

Primary Crushing

The PFS considered a gyratory-type primary crusher.  In re-evaluating the Project's geotechnical and communication datasets, the Company has identified an opportunity to use mineral sizers for primary crushing.  Taking advantage of the modest compressive strength and fractured nature of the Baptiste ore, mineral sizers have added significant value through reduced earthwork and structural quantities, increased operating availability, and the complete elimination of the second primary crushing line for the planned mine expansion from an initial Phase 1 processing throughput of 108,000 tonnes per day (" tpd ") to 162,000 tpd in Year 10 (" Phase 2 ").

Phase 2 Concentrator Expansion

The PFS considered the construction of a standalone processing facility for the Phase 2 expansion from 108,000 tpd to 162,000 tpd.  A new approach to expansion is based on an integrated concentrator approach which entails an expansion of the Phase 1 processing facility rather than the construction of a new standalone facility for Phase 2. This integrated approach results in a reduced process and infrastructure footprint, improved Phase 2 operability, and reduced Phase 2 work force requirements.

Project Phasing

A Value Engineering study re-evaluated the phased approach to processing throughput and compared it with a series of single-build scenarios ranging from 80,000 to 163,000 tpd.  Following this evaluation, the PFS's phased approach has been validated; however, the Phase 2 expansion has been accelerated to Year 6 from Year 10.  This acceleration in metal production is expected to generate improved economics versus the PFS, with the Phase 2 expansion funded from operating free cash flow following the 3.7 year after-tax payback demonstrated in the PFS.

Project Execution

Both Fluor and Wood were assigned further scope to review the PFS's execution basis, including the permanent facility layout, construction sequence, contracting approach, and overall execution schedule. Note that Fluor and Wood jointly executed the detailed engineering and construction management of the nearby Mt. Milligan Mine, which was commissioned in 2013 and is located 80 km east of Baptiste. Mt. Milligan is of comparable size and complexity to Baptiste, which uniquely positions Fluor and Wood to provide relevant context to the Baptiste project execution plan.

Through this additional execution planning effort, numerous scheduling improvements to the PFS were identified, thereby improving the constructability, operability, and maintainability of Baptiste.  In addition, increased focus on allowances for temporary construction facilities has improved execution scope assurance ahead of the environmental assessment  and permitting processes.  Fundamentally, these robust execution planning efforts further de-risk the Baptiste execution schedule, including the PFS assumption of a three-year construction period.

Andrew Osterloh , P.Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The Baptiste mineral claims cover an area of 408 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional territories of the Tl'azt'en Nation and the Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of awaruite nickel-iron mineralization.  For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/10/c9969.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Confirm New Thick Copper Intercepts at Cyclone and Lightning Ridge as Drilling Accelerates at the Storm Copper Project, Canada

Aston Bay and American West Metals Confirm New Thick Copper Intercepts at Cyclone and Lightning Ridge as Drilling Accelerates at the Storm Copper Project, Canada

30 RC drill holes now completed with diamond drilling now also underway

  • The 2024 summer drilling program continues to accelerate with more than 4,450 metres ("m") now completed

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×